On August 29, 2023 Diversified biotechnology company CCM Biosciences reported it launched from stealth today with more than ten drug programs, many of which originated from CCM Biosciences’ proprietary drug discovery platforms (Press release, CCM Biosciences, AUG 29, 2023, View Source [SID1234634784]). CCM Biosciences is partnered with the global chemical and pharmaceutical manufacturing company PMC Group for the Chemistry, Manufacturing, and Controls (CMC) of its drug programs. The CCM-PMC partnership offers a fully integrated ecosystem for the discovery, development, and manufacturing of drug candidates addressing some of the most significant unmet medical needs. The company has raised more than $25M in financings including Series A1 and A2 rounds at a multi-hundred million dollar valuation.
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Diverse Portfolio of First-in-Class Drug Candidates
CCM Biosciences possesses an expansive portfolio of novel product candidates including disruptive KRAS therapeutics that target the oncogene responsible for 25% of all cancers, selective first-in-class degraders of oncogenic kinases for lung cancer and leukemia, inhibitors of the master immune regulator cGAS for autoimmune disorders, therapies for nonsense mutations that account for 10% of all genetically inherited diseases, and disruptive drug candidates for mitochondrial upregulation relevant to a host of age-related disorders such as Parkinson’s, Alzheimer’s, and infertility.
Several of CCM Biosciences’ novel drug candidates have already reached significant development milestones. Extensive validation of the drugs’ scientific foundations has appeared in multiple peer-reviewed publications. Investigational New Drug applications are expected to be filed with the FDA in the near future, based on clinical trial plans developed with leading medical experts from institutions including Cleveland Clinic and Ohio State University. Dr. Sudipto Mukherjee, clinical trials investigator for CCM Biosciences’ autophagy inhibitor drug program and a hematologist-oncologist at Cleveland Clinic’s Taussig Cancer Institute, expressed his enthusiasm about the program saying, "CCM’s program, in-licensed from Cleveland Clinic and lead optimized at CCM, has the potential to address a significant unmet need in leukemia treatment."
Leadership Team with Deep Expertise in Scientific Innovation, Chemical Engineering and Finance
Dr. Raj Chakrabarti (Harvard AB, Princeton PhD; formerly Professor of Chemical Engineering at Carnegie Mellon and Purdue Universities), co-founder and CEO of CCM Biosciences and President of PMC Group International, founded CCM Biosciences based on technology platforms he developed in academia in the areas of chemical biology, computational biophysics, systems biology, and synthetic biology. These platforms, which merge experimental high-throughput screening with physics-based computational methods and learning algorithms, have been responsible for the discovery of more than half of CCM Biosciences’ drug candidates and all its diagnostic tests and continuously feed its pipeline of drug leads to address areas with significant unmet need. CCM’s diagnostic technology platform builds off of patented technologies originating in the PhD thesis work in nucleic acid polymerization and sequencing of Chakrabarti that are licensed to CCM Biosciences and are among the top 5 revenue-generating patents in the history of Princeton University, according to the university’s Office of Technology Licensing. Chakrabarti’s patent income as a biotechnology inventor provided $2M seed funding for CCM.
Dr. Anisha Ghosh, co-founder of CCM Biosciences and Professor of Finance at McGill University, oversees the choice of drug programs comprising the company’s portfolio, as well as allocation of capital among them based on modern quantitative methods for asset management, given the diversity of the company’s portfolio. Ghosh’s research in asset pricing and portfolio management has been published in leading journals including the Journal of Finance and Review of Financial Studies, and has been the subject of invited lectures at leading venues ranging from the National Bureau of Economic Research to the Institute for Quantitative Research in Finance. She stated: "Our cost-effective approach to reaching the current stage in CCM Biosciences’ lifecycle offers a unique story against the backdrop of heavily funded, albeit risky biotech companies."
PMC Group’s leadership, having helmed the growth of one of the fastest-growing chemical companies in the US for over 25 years, also brings market-leading expertise in chemical manufacturing to the partnership.